Forex Analysis
USD Mid-day Analysis
The Dollar remains near the prior session’s lows despite a mix of positive and negative economic newsflow this week and in the face of a noted deterioration in the European economic outlook.
CAD Mid-day Analysis
One has to be impressed with the action in the Canadian this week, as it held gainsdespite a noted deterioration in global economic recovery sentiment.
GBP Mid-day Analysis
The Pound has seemingly found some value on the charts and it would appear that the UK economystands head and shoulders above most others but that the relatively expensive recent price in
Credit Agricole Advises Against Selling The EUR At Current Levels
The EUR has been capped of late, mainly on the back of lower than expected growth data and as most ECB members supported the view of more aggressive monetary policy action being considered as soon as next month.
Central European Daily
The HUF is still more sensitive Thanks to the strong GDP figure (published yesterday) EUR/HUF touched its 200-day moving average (302.5),
The Global Macro Pulse
Asian shares fell, with the Nikkei down 1.7% on the day. HSI dropped 0.7%, the Kospi fell 0.6% and ASEAN markets were 0.1% to 0.6% lower. S&P futures were marginally lower following the sharp correction overnight.
FX Daily
Today’s data calendar is rather thin. In the US, the main focus will be on the releaseof housing starts and building permits for May as well as the release of theUniversity of Michigan confidence indicator.
FI Eye-Opener: Spreads explode as growth disappoints
Markets did not stabilize yesterday, not even close, but the huge rally in core bonds only picked up steam. Curves bull-flattened further, and flight-to-safety was the name of the game.
AUD/USD Analysis
Aussie retreated to $0.9327 low last night in the US and opened at $0.9357 this morning, but initially held near there at $0.9356 in early Asian dealings.
EUR/USD Analysis
The pair started in Asia this morning at $1.3709 after a $1.3648 to $1.3732 range in the US last night. It traded up to $1.3717 but lost ground as risk appetite took a hit from weak regional stocks.
GBP/USD Analysis
The pair closed in NY Thursday at $1.6788 after rate had recovered off earlier session lows of $1.6732, seen as rate tracked euro-dollar slippage,